Torbay Council

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Statement of Accounts

The Statement of Accounts for Torbay Council are prepared in accordance with the Accounting Code of Practice published by the Chartered Institute of Public Finance and Accountancy opens in a new window (CIPFA). This sets out the principles and practices of accounting required to prepare a Statement of Accounts which presents a 'true and fair' view of the financial position and transactions of a local council. Any departures from this standard are disclosed in the notes to the accounts.

2010/11 Accounts

The 2010/11 accounts (and therefore 2009/10 comparative data within these Accounts) are the Council's first Accounts to be produced in line with International Financial Reporting Standards (IFRS).
As a result of the change to IFRS there has had a significant impact on the format and content of the Council’s Accounts. In the 2010/11 Accounts there is a note outlining the main restatements required by the move to IFRS.
To support understanding of the change to IFRS, CIPFA have issued a guide called " IFRS: How to tell the story opens in a new window" to provide an overview of the change to IFRS.

Public Notice.


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